Businesses face the challenge of identifying and assessing the level of risk associated with their investments before making any decision. Business owners can make effective decisions upon understanding how business assets are positioned to maximize profits while minimizing risks. Financial risk management software helps identify and measure the extent of financial risks likely to affect business investments, including assets. Which is the best financial risk management software? You don’t have to worry anymore because we have a recommendation for the best financial risk management software you can use

Top 9 Best Financial Risk Management Software in 2022

  1. MATLAB– Best Financial Risk Management Software for mathematical modeling and simulations
  2. SEON– Best Financial Risk Management Software with unique features
  3. Kyriba– Best Financial Risk Management Software
  4. SmartRisk– Best Financial Risk Management Software for risk management expertise
  5. Reval- Best Financial Risk Management Software for overall risk management
  6. Wrike- Best financial risk management software for minimal risks
  7. Ekata– Best financial risk management software with ease of use
  8. Cybersource-Best financial risk management software with a payment database system
  9. Corporate Business Management Platform- Best financial risk management software for reputable risk management

1. MATLAB- Best Financial Risk Management Software for mathematical modeling and simulations

MATLAB software is designed to help new and experienced business owners compute mathematical algorithms and programming. It best serves engineering and science-based businesses. MATLAB allows model creation and data analysis. It has different versions for both private and public institutions.

PRICING:

  • Flat rate, available on request

KEY FEATURES:

  • Saas, Windows, and Mac versions
  • Graphical data presentation
  • Regression analysis
  • Collaboration Tools
  • Reporting/Analytics
  • Data Visualization
  • Document management
  • Design Analysis

REASONS TO BUY:

  • Free trial
  • Accessible everywhere
  • Big data
  • Faster results
  • Add-ons for all applications
  • Enhanced collaboration

REASONS TO AVOID:

  • Requires large storage space
  • Requires training to use
  • Coding challenge for new users

3. SEON– Best Financial Risk Management Software with unique features

The SEON software has been operational since 2015. It guarantees revenue and transaction protection through an end-to-end fraud platform. It has knowledge manuals for training new users and is flexible and easy to integrate.

PRICING:

  • Free Trial, then $99 per month

KEY FEATURES:

  • API
  • Web apps
  • An anti-fraud suite of tools
  • Outstanding UX
  • Extensions
  • Messenger lookup
  • Transparency operations

REASONS TO BUY:

  • Full set of risk management
  • Transparency
  • Flexible

REASONS TO AVOID:

  • No on-site premise support
  • No on-site integrations

4. Kyriba– Best Financial Risk Management Software

This financial risk management software has worldwide recognition for its excellent features. Kyriba supports many languages and has been adopted and used in large organizations and enterprises. Kyriba financial risk management software guarantees your business secure operations. It has a SaaS platform designed to offer reliable bank integration and connections to solve financial problems. Nothing is complex with Kyriba.

PRICING:

  • Available on request

KEY FEATURES:

  • Risk Management
  • Supply Chain Finance
  • Fraud Detection
  • Payments
  • Treasury Management
  • Optimize cash

REASONS TO BUY:

  • Many languages
  • Quality support
  • Easy to use

REASONS TO AVOID:

  • No free fields for some custom configurations

4.SmartRisk- Best Financial Risk Management Software for risk management expertise

SmartRisk software guarantees low risks to your business and customers. With this software, a business maintains its customers even during down markets. SmartRisk software prevents investment mistakes, helps clients make portfolio changes, and fosters market risk management expertise. This software will unfold the blindness within the market and make every risk easily identified and mitigated.

PRICING:

  • Ten days free trial, then $49.99 per month

KEY FEATURES:

  • Cloud, Web-based, SaaS
  • Portfolio Modeling
  • Market Risk Management
  • Risk Analytics
  • Portfolio Management
  • Reporting/Analytics
  • Stress Tests

REASONS TO BUY:

  • 24/7 support
  • Documentation
  • Portfolio understanding
  • Easy to use

REASONS TO AVOID:

  • Difficulties handling one client’s different accounts

5. Reval– Best Financial Risk Management Software for overall risk management

Reval software is reliable for cash, liquidity, and financial risk management, established in 2016. It is cloud-based with useful features for optimal control, security, compliance, and efficiency. It applies to SMEs, agencies, enterprises, and start-ups. Your business will have excellent risk management with reval risk management software.

PRICING:

  • Available on request

KEY FEATURES

  • SaaS, Android, Web App, Windows
  • Mobile support
  • Hedge compliance & accounting
  • Cash & Liquidity Management
  • Risk Management
  • Centralization
  • Value at risk calculations
  • Treasury Management System

REASONS TO BUY:

  • End-to-end tracking
  • Automatic upgrades
  • Mobile support
  • Customizable

REASONS TO AVOID:

  • Unfriendly user interface
  • Complex report writing tools

6. Wrike– Best financial risk management software for minimal risks

Wrike software is trusted worldwide and is used in over 140 countries. The software is web-based and has excellent experience in risk management with no significant shortcomings. This software offers reliable ways to reduce project costs and risks and increase profitability. It is authentic and focuses on role access, data security, and security guaranteed for SMEs.

PRICING:

  • Free trial, then $9.8 per month

KEY FEATURES:

  • Web-based, SaaS, Cloud
  • Windows, Mac, Android, iPad, and iPhone platforms
  • Agile methodologies
  • Audit trail
  • Approval process control
  • Accounting integration
  • Activity tracking
  • @mentions

REASONS TO BUY

  • Easy to use
  • Easy to integrate
  • Client satisfaction
  • Collaboration tools

REASONS TO AVOID

  • Low support system
  • Automated additional charges

7. Ekata– Best financial risk management software with ease of use

Ekata software was established in 1997 in Seattle, US, and assures an end-to-end platform to all its users. It is designed to meet risk management concerns through the Ekata identity graph. It requires all clients to be approved using emails and phone addresses. Its modular tools are compatible with ID checks, data enrichment, and risk evaluation. Ekata embraces many authentication features to safeguard your company from unnecessary risks.

PRICING:

  • Available on request

KEY FEATURES

  • API, SaaS
  • Automation
  • Real-time transactions
  • Manual reviews
  • Ekata Identity engine

REASONS TO BUY:

  • Easy to use
  • Modular tools
  • Active risk management team
  • Good for SMEs

REASONS TO AVOID:

  • No planning for anticipated risks
  • Fairly basis fraud prevention reports

8. Cybersource-Best financial risk management software with a payment database system

The software was established in 1994 and has gained substantial brand loyalty and experience. It is effective for effective financial risk management through its decision management tools. It is reliable for flexible and multi-layered transaction-based decisions that meet customer needs. It assures fraud prevention, data security, currency conversion, and global tax compliance.

PRICING:

  • Tier-based, available on request.

KEY FEATURES:

  • End-to-end platform
  • Automatic reviews
  • Web-based interface
  • Integration
  • Custom API
  • Decision manager replay
  • Automatic transaction assessment

REASONS TO BUY:

  • Customer satisfaction
  • Reduced fraud
  • Revenue maximization
  • Increased authorization rates
  • Save on authorization costs

REASONS TO AVOID:

  • A lot of clean up
  • API may confuse
  • Technical documentation is complex

9. Corporater Business Management Platform– Best financial risk management software for reputable risk management

Corporater business management platform software is designed for intelligent business financial risk management. This software guarantees your business transition into an environment defined by collaborative and integrated communication gaps for unified risk register and assessment approaches. It has a supportive team for helping clients whenever faced with challenges. This software has authority in governance and risk detection, assessment, and management assurance.

PRICING:

  • Free trial, price available on request

KEY FEATURES

  • Risk register
  • Automation
  • Risk governance
  • Analytics
  • Customization
  • Consent management
  • Business process control
  • Reports and documentation
  • Integrations
  • Corrective and Preventive Actions (CAPA)
  • Audit management

REASONS TO BUY:

  • Transparency
  • Excellent UI, UX, and flexible change management
  • Reduced risks
  • Ease of decision making
  • Enhanced internal culture
  • Accountability
  • Real business intelligent support
  • Strategic initiatives

REASONS TO AVOID:

  • Needs option for view license only
  • Limited BI tools for customer experience

References and Links

-https://ekata.com/

-https://seon.io/

-https://www.covisum.com/solutions/smartrisk

-https://www.cybersource.com/en.html

-https://www.g2.com/products/corporater-business-management-platform/reviews

-https://www.kyriba.com/

-https://www.mathworks.com/products/risk-management.html

-https://www.reval.com/

-https://www.wrike.com/use-cases/project-risk-management/